You Get What You Pay For

Hi reader,

You’ve heard me talk about how every solopreneur needs a team of experts behind them. An accountant, an insurance person, maybe even a business advisor – there are a lot of things we can't do alone. 

We all need to bring in outside help at some point. But choosing the wrong people can be a big (and expensive) mistake.

Today’s advice to grow your business

Only hire outside help when you know exactly what you're getting.

There are a lot of service providers out there making empty promises. A business consultant might tell you they'll "streamline your operations" or a social media manager might say they'll "grow your social media presence." But what does that even mean in real terms? How do you actually measure that?

Instead, look for places that clearly define their deliverables with specific metrics. You want to hear something like "We'll increase your Instagram followers by 5,000 in three months" or “We'll help you identify three new revenue streams"

And don't be afraid to ask for guarantees. If they can really deliver, they should be willing to stand behind their work. After all, it's your business, and you're paying them good money. You deserve to know exactly what you're getting in return.

Here’s how this will benefit you

You'll hold people accountable and see a return on your investment.

When you have clear agreements in place with specific, measurable outcomes, it's much easier to track progress and make sure you're getting what you paid for. You'll have concrete evidence to show whether or not they're delivering on their promises, which means you can make informed decisions about continuing their services or taking your business elsewhere.

You'll avoid unnecessary back-and-forth and get straight to the results you need.

Think about how much time you waste going back and forth with people, clarifying instructions, or explaining things multiple times. When you set clear expectations from the start and everyone knows exactly what they're responsible for, communication becomes much more efficient. You'll spend less time 

Your first step

Prepare a list of questions to ask potential hires, focusing on how they measure success and what guarantees they offer.

Don't be afraid to ask the tough questions. This is your chance to gather all the information you need to make a smart decision about who you bring onto your team.

Here are a few ideas – feel free to steal these and save them somewhere:

• “What metrics do you use to measure success for this type of project?"

• "What are the specific deliverables I can expect to receive?” 

• "What are the minimum guaranteed outcomes you're willing to commit to in writing?"

• "What is your process for tracking progress and reporting on results?"

• "What happens if you don't meet the agreed-upon deliverables?"

At the end of the day, it’s your business on the line. So, do your homework, ask the tough questions, and make sure you're getting the value you deserve.

Best,

Jono

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